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Current DateTime: 03:24:53 04 Dec 2008
LinksList Documentid: 23371764
    • Yen Glows Amid Global Downturn

        The stampede out of equities has driven investors towards safe haven assets such as the Japanese yen -- a currency that has risen sharply as its appeal grows whenever risk appetite wanes. Just how much higher can it go against the U.S. dollar?

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Nearly 1.52 billion shares and $19.3 billion traded yesterday in CNBC's Million Dollar Portfolio Challenge.  The top currency trader has more than doubled his money making over $221,000 since currency trading began.  Check out Sue Herrera's currency tips here and for daily currency analysis, go to Currency Updates.

Contest Widely Helds and Actives:

  • EUR/CHF [$$EURCHF  Loading...      ()   ] replaced NZD/JPY [$$NZDJPY  Loading...      ()   ] in the contest Most Actives.

  • The most profitable currency trades in the contest were made in the EUR/USD [$$EURUSD  Loading...      ()   ] , USD/CAD [$$USDCAD  Loading...      ()   ] and GBP/JPY [$$GBPJPY  Loading...      ()   ] pairs.
  • EUR/USD [$$EURUSD  Loading...      ()   ] remains the most actively traded currency pair, and the most profitable. 
    • One of our leaders continues to make money in the EUR/USD by "scalping," a strategy where the trader executes extremely short-term positions, some as short as 60 seconds, to collect small gains.  He has made over $120,000 employing this strategy.
  • Sirius Satellite Radio [SIRI  Loading...      ()   ] continues its stranglehold on the contest Widely Helds, and regains its Most Active title on Monday and with an upgrade to buy from neural by Merrill today, the stock could show some decent gains.

  • Industrials continue to represent 30% of the top widely helds followed by Financials at 25%.

Sample of Top Trades in the Leaderboard: Precious Metals and Mining companies dominate as gold rallies

  • Goodrich Petroleum [GDP  Loading...      ()   ] if you bought on Friday before 4pET and held/sold on Monday, you made 9.57%
  • Petrohawk Energy [HK  Loading...      ()   ] if you bought on Friday before 4pET and held/sold on Monday, you made 7.80%
  • James River Coal [JRCC  Loading...      ()   ] if you bought on Friday before 4pET and held/sold on Monday, you made 7.04%

Sample of Losing Trades from the Leaderboard: 

  • Ivanhoe Energy [IVAN  Loading...      ()   ] if you bought on Friday before 4pET and held/sold on Monday, you lost -1.93%

Bets for today (July 1st): Dominated by Precious Metals and Mining

  • Rostelecom  [ROS  Loading...      ()   ]
  • Steel Dynamics  [STLD  Loading...      ()   ]

  • Sandridge Energy  [SD  Loading...      ()   ]

  • Oilsands Quest [BQI  Loading...      ()   ]

  • GMX Resources [GMXR  Loading...      ()   ]

  • MSC Industrial [MSC  Loading...      ()   ]

  • Elan Corp. [ELN  Loading...      ()   ]

It's not too late to get started.  You can still get in the game to win the grand prize or one of these great weekly prizes.
Click here to play.

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